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Republic Act No
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Republic Act No

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Questions and Answers

What is the title of the act mentioned in the text?

  • Debt Resolution and Liquidation Act (DRLA) of 2009
  • Financial Rehabilitation and Insolvency Act (FRIA) of 2010 (correct)
  • Insolvency and Debt Recovery Act (IDRA) of 2011
  • Financial Stability and Recovery Act (FSRA) of 2008

    • What is the main policy goal of the State?

  • To protect the interests of creditors over debtors
  • To encourage debtors and creditors to collectively resolve competing claims (correct)
  • To prioritize the rights of natural persons over juridical persons
  • To expedite the liquidation process for financially distressed individuals

    • Where was the Act initiated and held?

  • Metro Manila (correct)
  • Quezon City
  • Cebu City
  • Davao City

    • What does the Act aim to ensure in the rehabilitation or liquidation process?

    <p>Timely, fair, transparent, effective, and efficient process</p> Signup and view all the answers

    What is the specific number of the Republic Act mentioned in the text?

    <p>No. 10142</p> Signup and view all the answers

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